Federation des caisses Desjardins du Quebec Acquires 189,416 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in Canadian Pacific Kansas City Limited by 4.0%, owning approximately $345.45 million in shares, making it the company's 12th biggest position.
• Canadian Pacific Kansas City reported $0.81 earnings per share, missing analysts' expectations, with revenue of $2.72 billion for the quarter, an increase of 2.7% year-over-year.
• The company announced a quarterly dividend increase to $0.1651 per share, raising its annualized dividend yield to 0.9%, with a payout ratio of 20.56%.

Federation des caisses Desjardins du Quebec raised its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,941,047 shares of the transportation company's stock after buying an additional 189,416 shares during the period. Canadian Pacific Kansas City comprises 1.7% of Federation des caisses Desjardins du Quebec's portfolio, making the stock its 12th biggest position. Federation des caisses Desjardins du Quebec owned about 0.53% of Canadian Pacific Kansas City worth $345,449,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. North Capital Inc. bought a new position in shares of Canadian Pacific Kansas City during the first quarter worth $27,000. Cornerstone Planning Group LLC boosted its holdings in shares of Canadian Pacific Kansas City by 209.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock worth $28,000 after buying an additional 256 shares during the period. Cheviot Value Management LLC bought a new stake in shares of Canadian Pacific Kansas City during the 1st quarter worth about $30,000. Bernard Wealth Management Corp. bought a new stake in Canadian Pacific Kansas City in the 4th quarter valued at about $31,000. Finally, Hexagon Capital Partners LLC boosted its holdings in Canadian Pacific Kansas City by 49.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock valued at $35,000 after purchasing an additional 164 shares during the period. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Stock Down 0.2%

Shares of NYSE:CP traded down $0.12 during midday trading on Friday, reaching $76.64. The company's stock had a trading volume of 2,393,127 shares, compared to its average volume of 2,743,303. The firm has a 50 day moving average of $77.06 and a 200-day moving average of $76.49. The firm has a market capitalization of $70.02 billion, a P/E ratio of 23.87, a PEG ratio of 2.15 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $87.72.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). The firm had revenue of $2.72 billion for the quarter, compared to analysts' expectations of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $1.05 earnings per share. On average, research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be given a $0.1651 dividend. The ex-dividend date is Friday, September 26th. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 20.56%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CP shares. Citigroup upped their price objective on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Barclays upped their price objective on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a report on Saturday, August 23rd. Bank of America increased their target price on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $92.30.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers.